That's Deferred Tax Assets. Livesquawk reporting an article just out from ratings agency Fitch
"A total of EUR25bn of new capital earmarked for the Greek banking sector
in the Euro Summit Statement of 12 July should be sufficient unless
deferred tax assets (DTA) cease to be counted as core capital, says
Fitch Ratings in a report published today.
Aggregate deferred
tax credit-eligible DTAs of Greece's four largest banks, which jointly
have a 96% market share, represented 45% of their joint common equity
tier 1 (CET1) as of end-2014. While our base case is that the existing,
favourable regulatory treatment of DTAs will continue as banks calculate
mandatory minimum Pillar 1 capital, there is considerable uncertainty
and there is scope within the Pillar 2 supervisory framework, which
provides regulators with additional tools to assess the adequacy of bank
capital, to adopt a harsher approach."
Full report here and yes my 3 day battle with BT to get my upgrade sorted to the faster speed Infinity finally appears over. Ok, so I live rurally but yes they have been totally useless!
A big thank-you to Ryan for some excellent coverage meanwhile.
Onwards n upwards!
